Indian origin supplies permitted in Indonesia’s 340,000 MT rice tender

By Reuters

Indonesian state purchasing agency Bulog has told traders that Indian supplies can be offered in its new international tender to buy 340,000 metric tons of rice and the offer deadline is postponed by one day, European traders said on Tuesday. Traders said an initial announcement from Bulog said the rice could be sourced only from Thailand, Cambodia, Vietnam or Pakistan.

But a notice sent to traders on Tuesday said Indian-origin rice can also be offered. Indonesia’s recent tenders have been among the most important sources of demand for Asian rice producers this year. The deadline for submissions of price offers in the tender is now Oct. 31 instead of Oct. 30, they said, with price negotiations expected to follow for several days before a decision.

The tender continues heavy rice purchasing by Indonesia in global markets to cool domestic prices after a disappointing domestic harvest. Indonesia’s 2024 rice crop is estimated at 30.34 million tons, down 2.43% from last year, the country’s statistics bureau said.

This article has been republished from The Business Standard